Company mined 445 bitcoin;
Exceeds 20 EH/s, doubling operating hashrate since December
LAS
VEGAS, July 2, 2024 /PRNewswire/
-- CleanSpark Inc. (Nasdaq: CLSK), America's
Bitcoin Miner™, today released its unaudited
bitcoin mining and operations update for the month
ending June 30, 2024.
The Company achieved and exceeded its mid-year target of 20 EH/s
in operational hashrate, a result of its previously
announced acquisition of five new bitcoin mining
sites in Georgia. The 60 MW of
infrastructure from these sites include interruptible-load
designated power purchase agreements (PPAs) with load balancing
capabilities, a unique benefit for utility providers and the power
grid.
"We reached a tremendous milestone on our path to 50 EH/s and
beyond. Surpassing 20 EH/s in operational hashrate is more than
double our hashrate from December," said Zach Bradford, CEO. "Doubling our hashrate takes
grit and teamwork and our growth is a testament to the dedication
of our teams. While our peers are exploring other avenues of
income, we're laser-focused on delivering results and increasing
our bitcoin mining hashrate and associated revenues.
We continue to maximize efficiency at our existing sites and look
forward to the opportunities ahead of us in Wyoming and Tennessee."
June Bitcoin Mining Update (unaudited)
- Bitcoin mined in June: 445
- CY2024 bitcoin mined: 3,614
- Total bitcoin holdings as of June 30: 6,591
- Total bitcoin sold in June: 8.06
- Deployed fleet: 152,505
- Month-end fleet efficiency: 22.31 J/Th
- Current hashrate: 20.4 EH/s
The Company sold 8.06 bitcoin in June 2024 at an average price of approximately
$67,514 per bitcoin. The
average hashrate throughout the month of June was 17.85 resulting
in an average of 14.83 bitcoin mined daily and a
single day high of 22.41.
Growth Update
Definitive Agreement executed
to acquire GRIID Infrastructure (Nasdaq: GRDI). The Company
entered into an agreement to acquire GRIID Infrastructure.
(See the Company's SEC filings for additional details.)
Closed acquisition of five turnkey sites in Georgia, providing 60 MW of immediately
available data center infrastructure. Once fully deployed, sites
will add 3.7 EH/s of total hashrate. As of June 30, approximately 1.7 EH/s have been
deployed, with additional hashrate expected to come online in
July.
Dalton expansion concrete pours for both building slabs
have been completed and transformers have been set. When the full
expansion is operational, CleanSpark's Dalton campus, which
consists of four independent data centers, is expected to operate
at 2.4 EH/s. The Company expects this 15 MW expansion to be
completed by September 2024.
About CleanSpark
CleanSpark (Nasdaq: CLSK) is
America's Bitcoin Miner™. We own and operate multiple
data centers that primarily run on low-carbon power. Our
infrastructure responsibly supports Bitcoin, the
world's most important digital commodity and an essential tool for
financial independence and inclusion. We cultivate trust and
transparency among our employees and the communities we operate in.
Visit our website at www.cleanspark.com.
Forward-Looking Statements
This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. In this press release,
forward-looking statements include, but may not be limited to,
statements regarding the Company's expectations, beliefs, plans,
intentions, and strategies. In some cases, you can identify
forward-looking statements by terms such as "may," "will,"
"should," "expects," "plans," "anticipates," "could," "intends,"
"targets," "projects," "contemplates," "believes," "estimates,"
"forecasts," "predicts," "potential" or "continue" or the negative
of these terms or other similar expressions. The forward-looking
statements are subject to a variety of known and unknown risks,
uncertainties and other important factors that may cause our actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements, including, but not
limited to: future opportunities in Tennessee and Wyoming; the timing and completion of the
acquisition of Griid Infrastructure; the timing and operational
results of the Dalton expansion; anticipated additions to
CleanSpark's hashrate and the timing thereof; the risk that the
electrical power available to our facilities does not increase as
expected; the success of its digital currency mining activities;
the volatile and unpredictable cycles in the emerging and evolving
industries in which we operate; increasing difficulty rates for
bitcoin mining; bitcoin halving; new or
additional governmental regulation; the anticipated delivery dates
of new miners; the ability to successfully deploy new miners; the
dependency on utility rate structures and government incentive
programs; dependency on third-party power providers for expansion
efforts; the expectations of future revenue growth may not be
realized; and other risks described in the Company's prior press
releases and in its filings with the Securities and Exchange
Commission (SEC), including under the heading "Risk Factors" in the
Company's Annual Report on Form 10-K for the fiscal year ended
September 30, 2023, and any
subsequent filings with the SEC. Forward-looking statements
contained herein are made only as to the date of this press
release, and we assume no obligation to update or revise any
forward-looking statements as a result of any new information,
changed circumstances or future events or otherwise, except as
required by applicable law.
Investor Relations Contact
Brittany Moore
702-989-7693
ir@cleanspark.com
Media Contact
Eleni Stylianou
702-989-7694
pr@cleanspark.com
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SOURCE CleanSpark, Inc.